Corona Bankruptcy Attorney
When selecting a local Corona bankruptcy lawyer, it is important that you feel comfortable and understand what your options are. An experienced bankruptcy attorney should evaluate your situation and provide you with different options to resolve your financial situation.
Before you select an attorney make sure you understand what bankruptcy involves and clear up any questions or concerns that you may have with regards to filing for bankruptcy case. You should feel that the attorney is dedicating the time necessary to answer questions and resolve any concerns you may have. There are many myths and lies about bankruptcythat any experienced attorney should help you clear up.
Disclose all the information that you feel may be relevant to your financial situation. An attorney cannot provide with the correct options for your particular situation without knowing all of the necessary facts. If you feel that something may affect your qualification to file or you are concerned about a particular event that you feel may affect your bankruptcy, disclose this information to your attorney. Your attorney will use the information to determine whether you need to file for Chapter 7 or Chapter 13 bankruptcy protection.
Bankruptcy is a legal tool that can help you re establish control of your finances and debts.The bankruptcy process involves filing a petition with the bankruptcy court that provides the court with a financial picture of your current situation. It provides the court with the information required to determine your qualification to file for bankruptcy protection. Once the bankruptcy case is filed in court, the automatic stay is an important and powerful tool that will stop any pending foreclosures, wage garnishment, and creditor contact.
Once you have filed for bankruptcy, creditors must stop contacting you. It is important that you inform your attorney if any creditor continues to contact you or send you letters. At the conclusion of your bankruptcy case you will receive a discharge. The bankruptcy discharge removes any personal liability for debts that were included and dischargeable in your bankruptcy. After your discharge, you can start rebuilding your credit and start living debt free.
DO YOU QUALIFY TO FILE FOR CHAPTER 7 BANKRUPTCY?
Your qualification to file for Chapter 7 Bankruptcy is based on a number of factors that include your income, household size, and monthly household expenses, excluding credit card payments. Generally, an attorney will review your paycheck stubs and any other proof of income, along with your monthly household expenses to determine whether filing for Chapter 7 bankruptcy is an option. The amount of the debt you owe is a small percentage of the analysis in determining whether you qualify to file for Chapter 7 bankruptcy protection. Many people incorrectly assume that the amount of the debt you owe is a large factor in your qualification for Chapter 7 bankruptcy. After reviewing these facts, the attorney should be able to advise you of your qualification to file for Chapter 7 bankruptcy protection.
DO I NEED TO FILE CHAPTER 13 BANKRUPTCY?
This depends on the overall goals of the bankruptcy and whether you have disposable income available to pay creditors with. If your intent is to pay arrears from your home mortgage or to repay taxes owed to the federal or state government through a structured three to five year plan then Chapter 13 bankruptcy would help you achieve these goals. Chapter 13 provides a structured plan that can help you establish one monthly payment that is distributed among all your creditors.
In addition, if an attorney reviews your finances and determines there is available income to pay creditors with, then you may not have the option of filing for Chapter 7 bankruptcy. In some cases you may only qualify to file a Chapter 13 bankruptcy case.
There are many important benefits to filing for Chapter 13 protection including the ability to remove a second mortgage. You can remove your second mortgage, if the value of your home is at or below what you owe on your first mortgage. You must complete your Chapter 13 bankruptcy plan in order for your second mortgage to be unrecorded from your home. Currently most judges do not allow you to lien strip a second mortgage in a Chapter 7.
Norma Duenas has represented hundreds of couples and individuals in filing for Chapter 7 and Chapter 13 bankruptcy in Corona. Her focus is on ensuring that clients understand how bankruptcy works and whether it is the right option. Her approach is to provide clients with the options available to resolve their financial problems and to help them rebuild their financial future. Ms. Duenas is a member of the National Association of Consumer Bankruptcy Attorneys and has an Excellent rating among clients on Avvo.com. Her law office is also part of the Better Business Bureau and has an A rating.
As part of meeting with Norma Duenas you will fill out a questionnaire that will help us evaluate your financial situation and determine if bankruptcy can eliminate your debts and stop creditor collection efforts. The attorney provides a 1-hour free consultation to review your facts, answer questions, and provide you with options.